Hayes Lemmerz sells MCG unit to ECF-Group

GabrielMadway

SAN FRANCISCO (MarketWatch) -- Hayes Lemmerz International Inc.
hayz
said late Friday it has sold its MGG Group B.V. subsidiary to an affiliate of the ECF-Group, a privately held company based in Switzerland and The Netherlands. Financial terms of the deal were not disclosed. MGG Group's three facilities make a variety of components including heat exchangers for gas-fired boilers, intake manifolds and other aluminum components for the European automotive, commercial vehicle and other industries. MGG's annual sales for fiscal 2006 were roughly $140 million. Northville, Mich.-based Hayes Lemmerz does not expect the transaction to have a material impact on its fiscal 2007 forecast.

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